Publix Acquires Two Former Lowes Foods Stores in North Carolina

LAKELAND, Fla., April 14, 2015—Publix Super Markets Inc. and Lowes Foods, LLC, have announced the companies have entered into an agreement under which Publix is expected to purchase two closed and vacant Lowes Foods stores in North Carolina:

1949 Hoffman Road, Gastonia and

3480 Kildaire Farm Road, Cary.

The transaction is projected to close later this month and includes two leased store locations and one leased fuel station. Financial terms of the transaction were not disclosed.

“We’ve opened eight stores in North Carolina within the past year, solidifying our commitment to growth within the state, ” said Publix CEO Ed Crenshaw. “Our associates continue to provide customers with premier service, quality products and an enjoyable shopping experience. As the largest employee-owned supermarket in the nation, our associates are passionate about serving customers, and meeting and exceeding their expectations. Our service- oriented culture is continuing to foster a loyal customer following in North Carolina and across all our market areas.”

"As a homegrown grocer serving our guests in the Carolinas since 1954, we continue to be excited about the future of Lowes Foods," said Lowes Foods President Tim Lowe. "The sale of these closed and vacant store locations is part of our comprehensive growth strategy that includes accelerating investment in rebranding existing stores, building new stores, and evaluating strategic marketplace opportunities."

Grand opening dates for the two locations will depend on the scope of the remodels. Publix does not intend to operate the fuel station.